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Mining

Mining Market Research Reports, Analysis & Trends

Mining industry comprises companies that operate by conducting operations and processes that are large in size, largely time consuming and difficult such as mining, quarrying, and oil and gas extraction, and transporting. Companies in this sector extract naturally occurring mineral solids, such as coal and ores, liquid minerals, crude petroleum, and natural gases. The term mining is used in the broad sense to include quarrying, well operations, beneficiating that is crushing, screening, washing, and flotation of mined materials, and other work performed at a mining site.

All the mine operations include operating mines, quarries, or oil and gas wells. Markets in the Mining sector are classified according to the natural resource mined or to be mined, and there are industries that include companies that develop the mine site, extract the natural resources, and/or those that prepare the mineral mined. Beneficiation is the preparation process wherein the extracted material is reduced to particles that can be separated into mineral and waste. Operations that take place in beneficiation are primarily mechanical in nature such as grinding, washing, magnetic separation, and centrifugal separation.

In order to do mining, it requires a large number of equipments and machinery, and the machinery and equipments are huge in size. The global mining equipment market is primarily driven by factors such as the increase in mining activities and the rising demand for metal and mineral commodities. The mining market is witnessing substantial growth after the economic crisis that catapulted many economies and industries in 2010, other than that there are other factors such as the enhanced demand for technically advanced solutions especially in developing countries is bolstering the growth of the global mining equipment market. Asia-Pacific (APAC) region dominates the global mining equipment market owing to tremendous growth of mining activities in China.

Current Trends in Mining Industry

The average size of annual marketing budgets of mining industry suppliers was recorded at $3.3 million in 2012, and has decreased to US$2.5 million in 2013. Mining suppliers that operate in Asia-Pacific (APAC) have the highest average budgets of $4.5 million by the end of 2013. The key drivers and factors changing the market is quite unstable yet promising of a positive change. Market uncertainty, falling demand, responding to pricing pressure and retention or recruitment of skilled staff are identified by respondents as the pressing business concerns in the global mining industry. Among buyers, 50% of respondents rate market uncertainty as the important business concern in 2013, while 42% highlight falling demand.

The global mining equipment market is segmented into six sub segments by equipment types namely, - mining drills and breakers, crushing, pulverizing and screening equipment, mineral processing machinery, surface mining equipment, underground mining machinery and other mining equipments. Metal mining, mineral mining and coal mining are the three main application sub segments of the global mining equipment market. The market has also been segmented and analyzed by geography into North America, APAC, Europe and rest of the world regions. Market estimates and forecasts are made after critical analysis of various macro and micro economic factors which directly and indirectly affect the market growth.

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